From the course: Building Web3 Decentralized Apps in Ethereum
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Decentralization and Web3 opportunities
From the course: Building Web3 Decentralized Apps in Ethereum
Decentralization and Web3 opportunities
- [Instructor] Once you understand the core nature of the blockchain and smart contracts, you can begin to contemplate the types of applications it is well suited for by harnessing its inherent decentralization, immutability, secure transaction handling, and tokenization. Where we can take this technology is really wide open but let's look at some of the key areas where people are focusing today. There are a few basic categories. DeFi or decentralized finance, tokenization, NFTs, DAOs or decentralized autonomous organizations, gaming applications, and other types of decentralized applications or DApps. Decentralized finance or DeFi is blockchain banking. DeFi apps range from lending D apps to ways to earn crypto through staking or liquidity pool farming. Ethereum and other blockchains have standards to create your own tokens. This can be done for a variety of reasons, from awards to utility to governance, and is typically…
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